Flushing Financial (NASDAQ:FFIC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Flushing Financial (NASDAQ:FFIC - Get Free Report) announced its quarterly earnings results on Tuesday. The bank reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01, Zacks reports. Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%.

Flushing Financial Price Performance

NASDAQ:FFIC traded up $0.10 during trading hours on Tuesday, reaching $12.45. 202,093 shares of the company traded hands, compared to its average volume of 245,916. Flushing Financial has a 1-year low of $10.65 and a 1-year high of $18.59. The stock has a market cap of $420.52 million, a P/E ratio of -12.33 and a beta of 0.67. The firm's 50-day moving average is $12.67 and its 200-day moving average is $14.56. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date was Friday, March 14th. Flushing Financial's payout ratio is currently -87.13%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Flushing Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, March 25th.

Insider Activity

In related news, EVP Thomas Buonaiuto sold 6,800 shares of Flushing Financial stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the completion of the sale, the executive vice president now owns 32,336 shares in the company, valued at approximately $417,781.12. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.31% of the company's stock.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.

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